Short term fixed then Discount Mortgage
| Initial rate | 4.99% fixed until 1 November 2009, then a discount of 0.80% off our standard variable rate until 1 February 2011 giving a rate payable of currently 4.99% | |
|---|---|---|
| The rate will then revert to our standard variable rate for the remainder of the mortgage term, currently | 5.79% | |
| The overall cost for comparison | 6.0% APR | |
| Arrangement fee | £395 (added to your loan unless you tell us otherwise) | |
| Early repayment charge | 3% of the amount repaid until 1 February 2011 | |
| Maximum loan to value ratio* | 75% (see notes below) | |
Please refer to the terms and conditions of your existing mortgage for any early repayment charges that may apply.
Your home may be repossessed if you do not keep up repayments on your mortgage
All mortgage pages must be read in conjunction with the important information (mortgages) page.
Notes
- Loan to Value- LTV
Loan to value (or LTV) means your current mortgage debt compared to the current value of your property; it is expressed as a percentage (e.g. £80,000 debt on a £100,000 property is 80% LTV). If your LTV is greater than a product’s maximum LTV, you will not be able to transfer to that product.
The LTV limits on the Existing borrower products only relate to transferring existing debt to a new product. Different LTV limits apply when we consider whether to make new or additional loans. We will not consider additional lending on our Buy to Let products.
The current value of your property is calculated by reference to the Halifax House Price Index (or other such index). - The discount may be withdrawn if you are more than three months late in paying any money due under the terms of the mortgage.
- If we agree to you letting the property, the discount will be withdrawn and we will charge interest at our standard variable rate plus an additional 0.25%.
- The discount rate is subject to the required monthly payments being made when they fall due.
- Applicants must be aged 18 years or over.
